Answer:
a market economy
Explanation:
Property rights, competition, and profits are essential characteristics of a market economy.
In a market economy, buyers and sellers encounter each other in the market, and through the forces of supply and demand, they determine the price of goods and services.
Property rights are needed in a market economy in order to create incentives for investors.
Competition is characteristic of a market economy because it atracts an important number of buyers and sellers.
Finally, profits, or the profit-motive, is the main goal of firms in a market economy.
